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kd786
April 20, 2022
Question

Bank feed

  • April 20, 2022
  • 1 reply
  • 0 views

Hi all,

 

I have a bit of a scenario with bank feeds which I want to confirm and get right. I was supposed to link our bank account to Quickbooks effective 1st April 2022, however this has caused some issues. Upon liaising with QuickBooks support, I was advised to disconnect the accounts and upload transactions from 1st April 2022 via a CSV file which is what I have done to keep on top of transactions. I have further been advised to link the bank account on 1st May 2022 and use the live feed then. My question is as follows:

 

1. Transactions for April have been uploaded via CSV and appear as my QB Bank balance. If I am going to link the account from 1st May, the opening balance journal will include the balance of April transactions therefore potentially double counting my opening balance for the QB Bank balance? Please correct me if I am wrong. If there is a way around this, will I have to post a journal to reverse the April transactions i.e. reduce my QB Bank balance?

 

Thank you.

  

1 reply

G
GeorgiaC
April 20, 2022

Hi kd786, thanks for your post 🙂 

 

Connecting a bank doesn't always automatically produce an opening balance entry - we'd recommend checking if this was generated after linking the bank account by navigating to the Cog > Chart of accounts > Account history - if an opening balance deposit or JE has been posted, you can click onto the transaction > select delete to remove. 

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